Indian
Indices: Asian indices opened in the green led by the Japanese ‘Nikkei’, which
crossed 20000 for the first time as the 'Yen' weakness saw stocks rally. With
the global rally in equities getting more pronounced higher risk taking seems
the present norm as bond yields fall with oil and gold prices.

Nifty closed unchanged for another session due to weak macro data,
however, intraday weakness got quickly bought into. The sentiment for higher
return in equities is evident as all bad news is getting bought into without
any correction. For today expect buying in mid-caps as they have corrected
more than the market and a rebound is on the cards.

The BSE
Sensex is currently trading at 31252.40, up by 114.81 points or 0.37% after
trading in a range of 31190.40 and 31332.56. There were 21 stocks advancing
against 9 stocks declining on the index.

The broader
indices were trading in green; the BSE Mid cap index was up by 0.62%, while
Small cap index was up by 0.36%.

The CNX Nifty is currently trading at 9646.35, up by
30.25 points or 0.31% after trading in a range of 9637.45 and 9673.50. There
were 32 stocks advancing against 19 stocks declining on the index.

MARKET
INDICATORS

·

Group ATopGainers

Company

Price (Rs)

% chg

GMRINFRA

17.05

14.05

GVKPIL

5.61

8.09

Adanitrans

132.75

4.98

Welcorp

91.90

4.08

Group ATopLosers

Videoind

36.75

-4.92

GDL

242.80

-2.94

PFC

128.15

-1.88

Voltas

499.80

-1.79

INDEX
PERFORMANCE

Indices

Support

Resistanes

Sensex

30480

30900

Nifty

9410

9560

Technical view: Nifty finds strong support around 9570 while 9700
will be the target on the upside. Bank Nifty also finds support around 23100
while 23700 will act as major resistance on the upside.

CEAT Limited
(Buy Above 1791 with Stop Loss at 1766.5 for Target of 1840): After
consolidating for over 10 trading sessions and correcting from highs of Rs
1897 to Rs 1635 the stock has finally broken out from a continuation Flag
pattern. This indicates that a fresh up move is on the cards. The
breakout is accompanied with credible volumes. The stock has also bounced
back from its short term moving average, which further accentuates our
bullish stance on the stock.

Derivative Snippets

Pharma Sector: Attractive Valuations

L&T Technology Services (LTTS)has
completed the acquisition of Esencia. With this, EsenciaTechnologies will become a subsidiary of L&T
Technology.

In the last trading session, Nifty
ended on a flat note for the fourth trading day in a row. Nifty and Bank
ATM/OTM put option strikes witnessed marginal short selling, indicating a
continued uptrend for the markets.

FIIs were net sellers in cash market
segment to the tune of Rs 517 Cr.FIIs index future long short ratio at 6x.

Nifty Movers: The top gainers on Nifty were BhartiAirtel up by
3.42%, Cipla up by 2.18%, Adani Ports & Special Economic Zone up by
1.85%, Hero MotoCorp up by 1.77% and Tata Motors - DVR up by 1.65%. On the
flip side, Tata Steel down by 1.49%, Power Grid down by 1.06%, GAIL India
down by 0.93%, Vedanta down by 0.89% and Hindustan Unilever down by 0.86%
were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Healthcare up by
2.00%, FMCG up by 1.15%, Consumer Disc up by 0.74%, Auto up by 0.66% and
Realty up by 0.47%, while Oil & Gas down by 1.21%, Energy down by 0.97%,
Metal down by 0.94%, Bankex down by 0.43% and PSU down by 0.38% were the
losing indices on BSE.

Top of Form

Bottom of Form

Bottom of Form

On the global front: On the global front, Asian shares were trading
mostly in green, with Shanghai bucking the trend. The offshore Chinese yuan
hit its highest level since October on Thursday, a move traders believe was
engineered by Chinese authorities as a show of strength to scare off yuan
sellers after Moody’s downgraded China last week. South Korea’s benchmark
Kospi index was higher as markets digested the release of revised Q1 GDP,
which reflected the economy grew 2.9% on year compared to the 2.7%.